Hello lilb84,
Thank you for using Apple Support Communities! I understand that your iPhone has been on the "Updating iCloud Settings" screen for longer than expected while setting up your new iPhone. I would be happy to help.
The first step would be to visit the Apple System Status page, to confirm that there are no issues reported with Apple services at this time:
Apple - Support - System Status
If there are no issues reported, try to restart the iPhone, then ensure you're connected to a strong, reliable, Wi-Fi network and a power source to finish setting up your iPhone:
Restart your iPhone, iPad, or iPod touch - Apple Support
Keep us posted on the results.
Cheers!